Tamil Nadu CM C Joseph Vijay announces full waiver of co-op farm loans upto ₹75,000

Tamil Nadu CM C Joseph Vijay on Monday announced full waiver of co-op farm loans upto ₹75,000.Tamil Nadu CM C Joseph Vijay. (ANI Video Grab/File)Speaking in the Tamil Nadu Assembly, Vijay also announced a waiver upto ₹75,000 for loans ranging between ₹75,000 and ₹one lakh. A total of 13.34 lakh farmers will benefit from the loan waiver scheme, news agency PTI reported.Emphasising that agriculture is the backbone of the state and that the prosperity of the nation depended on supporting farmers, he added that despite financial constrains, his government decided to extend additional support of ₹953.06 crore to farmers.Making the announcement under Rule 110 in the Assembly, Vijay said the government had earlier waived agricultural loans of up to ₹50,000 within 15 days of assuming office in May.The waiver was subsequently expanded to cover loans up to ₹75,000 in full, while farmers with loans exceeding ₹75,000 were given a waiver of ₹35,000, benefiting more than 14.44 lakh farmers, according to PTI.Following consultations with agricultural unions on August 7, 2026, the government decided to extend further relief despite financial constraints and Reserve Bank of India guidelines mandating timely settlements with cooperative banks, the chief minister said while announcing the additional benefits."This initiative will provide additional support to over 1.38 lakh farmers, representing an additional financial commitment of approximately ₹953.06 crore by the government, with a total waiver amount reaching ₹6,220 crore for 13.34 lakh farmers," the CM said.Vijay's announcement comes as he completed 100 days in office on Monday, marking a major milestone in the Tamil Nadu's history.(With PTI inputs)